19,800-SF Sublease Pact Turns On Office Lights

FORT WORTH-A Fort Worth office, emptied four months ago by Verizon, has its lights turned on in a 19,802-sf sublease for Mercantile Plaza at 4500 Mercantile Dr. in the city’s northern corridor.

Verizon Wireless Messaging turned over the keys to American Administrative Group for new office space under contract through April 2008, Brian Cheek of Grubb & Ellis Co. in Dallas tells GlobeSt.com. He, Steven Schneider, Jim Lob and Michelle Stanley represented Verizon Wireless in the sublease talks. Tom Dyer of Insignia/ESG’s Dallas office, bargained the terms for American Administrative Group.

Cheek says the sublessee has just completed its move into the 103,938-sf office building, the newest in the 1,300-acre Mercantile Center. Though terms aren’t being put out, it was “a deal that made sense for both parties,” he says. In early May, Verizon Wireless headed to a customer service center in Lewisville as corporate pushed a consolidation of its Dallas-Fort Worth offices.

Cheek says at least 10 suitors were lined up for the Mercantile Plaza space. “The market activity there seems to be more active than Dallas,” he points out, noting that there is a significant difference in the quantity that’s up for grabs.